Bank of America Corp. hired Alan Todd from JPMorgan Chase & Co. to head commercial-mortgage bond research.
Wall Street is scouring the U.S. for grocery stores as bankers are pushed out of lending to trophy office properties.
With almost six weeks to go in 2013, sales of commercial-mortgage bonds are already surpassing Wall Street’s forecasts for the year, defying concern that rising interest rates would stymie new deals.
MetLife Inc. and Prudential Financial Inc. are cutting Wall Street’s middlemen out of the resurgent market for loans backed by some of the nation’s most- prized commercial properties.
Randy Waesche was running out of time to retire debt he took on to build a Marriott hotel in downtown New Orleans. Then Citigroup Inc. showed up.
Landlords are piling the most debt onto commercial properties in five years as Wall Street banks bundle the loans into bonds to meet rising demand from investors seeking high yields amid record-low interest rates.
Debt investors are wagering that the worst is over for commercial real estate, driving prices on mortgage bonds to the highest in more than two years.
A guard clutching an assault rifle and another with a German Shepherd block the entrance to a parking garage on a quiet street in Arlington, Virginia, gateway to the Defense Intelligence Agency.
"Although hotel property performance has been relatively strong over the past few years, year-over-year revpar has begun to moderate, which makes us wonder if borrowers are trying to refinance their loans and take out equity while valuations are still robust."
- Alan Todd on Sep 30, 2013